Dear Valued Customers
In line with Bank Negara Malaysia's Guidelines on Late Payment Charges for Islamic Banking Institutions, Maybank Islamic will revise the ta'widh (compensation) rate on the outstanding balance of any financing after its maturity or upon judgment, from ‘r'* rate to IIMM rate**.
The existing ta'widh rate of 1% p.a. on overdue instalment/payment for facilities which are still within the financing tenure shall remain unchanged.
The above requirement is effective from 1 July 2012.
For further clarification, please contact our Call Centre at 1300 88 6688.
Maybank Islamic Berhad (787435-M)
* ‘r' rate refers to the gross dividend rate of Maybank Islamic's 12 month General Investment Account
** IIMM rate is defined as the daily weighted average for overnight rate of the Murabahah Interbank Investment at the Islamic Interbank Money Market
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